HomeMy WebLinkAbout1986-460
1
2
RESOLUTION NO. 86-460
RESOLUTION OF THE MAYOR AND COMMON
COUNCIL OF THE CITY OF SAN BERNARDINO
AWARDING THE SALE OF CERTIFICATES OF
PARTICIPATION (CITY OF SAN BERNARDINO
1986 PROJECTS)
3
4
5
WHEREAS, the Mayor and Common Council of the City of
6
7
8
9
10
11
San Bernardino
"City")
(the
authorized the execution and
delivery of not to exceed $2,875,000 principal amount of
Certificates of Participation (City of San Bernardino 1986
Projects) (the "Certificates") to finance a portion of the cost
of the acquisition, construction and installation of (i) a fire
station designated Park Centre Fire Station on certain land to
12
13
14
15
16
17
be acquired by the Redevelopment Agency of the Ci ty of San
Bernardino (the "Agency"),
(ii) a computer-aided dispatching
system and (iii) certain telephone equipment as described in a
Lease Agreement dated as of October 1, 1986 between the City and
the Agency; and
the Ci ty author ized
WHEREAS,
the sale of the
18
19
20
Certificates by Resolution No. 86-402, including the publication
of a notice inviting bids on the Certificates, which bids were
to be received and considered by the City on November 6, 1986.
21
22
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED
BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO AS
23
24
25
26
FOLLOWS:
SECTION 1. Award of Bonds.
In accordance wi th the
provisions of Resolution No. 86-402, the City has caused all
bids for the Certificates to be received, opened and presented
27
28
to it in the manner set forth in Resolution No. 86-402 and based
1
on an examination of said bids, hereby accepts the bid of Smith
2 Barney, Harris Upham & Co., Inc., a copy of which is attached
hereto as Exhibi t A, for the purchase of $2,875,000 pr incipal
3
4
5
6
7
8
9
10
11
amount of the Certificates in accordance with the terms and
provisions of said bid and awards the sale of the Certificates
to said bidder.
SECTION 2. Effective Date. This Resolution shall take
effect upon adoption.
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and Common Council of the Ci ty of San
Bernardino at a regular meeting thereof, held on the 7th day of
12
13
14
November, 1986, by the following vote, to wit:
AYES:
Council Members Estrada, Reilly, Marks, Quiel
15
16
17
NAYS:
None
ABSENT:
Council Members Hernandez, Frazier,
Strickler
18
19
20
21
22 day of
23
24
~;7a~~
,,/
City Clerk
The foregoing resolution is hereby approved this ~cL
November
, 1986.
/ ./ (~"J Jx~
Mayor of the City of
San Bernardino
25
26
27
28
Approved as to form:
/Z+J!I/P~
City Attorney
-2-
JRR0363
EXHIBIT A
PROPOSAL FOR
$2,875,000
CERTIFICATES OF PARTICIPATION
(CITY OF SAN BERNARDINO 1986 PROJECTS)
EVIDENCING A PROPORTIONATE INTEREST OF THE HOLDER
THEREOF IN LEASE PAYMENTS TO BE MADE
BY THE CITY OF SAN BERNARDINO AS RENTAL
FOR CERTAIN PROPERTY PURSUANT TO A
LEASE AGREEMENT WITH THE REDEVELOPMENT
AGENCY OF THE CITY OF SAN BERNARDINO
November 6, 1986
City of San Bernardino
300 North "D" Street
San Bernardino, California 92418
Pursuant to the Official Notice of Sale dated October 20, 1986 (the
terms of which are made a part of this bid) we offer to purchase $2,875,000,
principal amount, all or none, of the "$2,875,000 Certificates of
Participation (City of San Bernardino 1986 Projects) Evidencing a
Proportionate Interest of the Holder Thereof in Lease Payments to be Made by
the City of San Bernardino as Rental for Certain Property Pursuant to a Lease
Agreement with the Redevelopment Agency of the City of San Bernardino" at the
par value thereof plus a premium of $ or minus a discount of
$S?r" ~~7). 00 (making an aggregate sum or--$ ~ 7S~ 1~1) .00 ) plus interest
accrued on such Certificates from their date to the ~ate of delivery thereof.
The Certificates are to bear interest at the rates set forth in the
following schedule:
Interest Interest
Maturity Principal Rate Maturity Principal Rate
October 1 of Amount Per Annum October 1 of Amoun t Per Annwn
1988 $250,000 '1, ?e5' % 1993 $335,000 5, 15'" %
1989 260,000 I) fJ) % 1994 355,000 ~.?<; %
1990 280,000 r;:5fJ % 1995 380,000 ~~ %
1991 295,000 ~~% % 1996 405,000 5,75 %
1992 315,000 %
This proposal is subject to acceptance not later than 26 hours after
the expiration of the time for the receipt of proposals as specified in the
Official Notice of Sale.
There is enclosed herewith a certified or cashier's check for
$30,000, payable to the order of the City.
We hereby request that 500 printed copies of the Official
Statement (not to exceed 500 copies) be furnished us in accordance with the
terms of the Notice of Sale.
Our calculation of the net interest cost and net interest rate, which
is considered to be informative only and not a part of the bid, is as follows:
Total Interest
Less Premium or Plus Discount
Net Interest Cost /' --
Net Interest Rate'"
'.... '. .' ';':;;: .;-0.: ~"':J::.;' ..',
SMITH BARNEY.~'~':::'" ., ...::=) . '<'~~~~~::r.:~.: ",', - ~ <rO"
. -~ .(_4 .. a .r:"';~.. ~""?_.. 1_, . .. "~~'~'1tf(;-:. '.. ~_" .
._r~.~ ....:' :. 7"- ......;.... .. ~ ... ... .~"~~~~t:.",., ~'.. ... _,_
;',. SECURITY PACIFIC NATIONAL BANK:'.'-.,
~'t." . .' . I.. .' . ."
.'!. ....:. ....f.Y-.!,. BlInk Check Accounting Se"ICft:.~"::.."~.:'~... ':," -.
: .; woo :-:..i:JI;5.. ":.. Br Cat. . 821 6398' ., ~';'~:'"~~~ ...~ ~'~'., .:.....~-
.' .....~:;-.~, e., Ifom.. 92 . -, . . ~....:.:.~>.......:..
. ~'~.- '~,....::.:c'..- .....:.~'e..!... :..-~,.i'-s.~t~_:._. ....':"~~.:~ ...~~,:; ';,. .<#:,
PAY TO THE ORDER OF
1* * * * *
-::-1
_I
I
* * *
CITY OF SAN BERNARDINO* *
*
$ , lJfS,5W.
$ Y:Jo. r~5l' Ou
$ I} 1?J I) 7<:tJl
In. ''14/31 1
Respectfully submitted,
Name
By o. , I nc .
Address 800 West Sixth Street
City Los Anqeles State CA
I
01111'<;:1 NUMB."
No.01696152
16.4/1220 I
DATE
296
NOVEMBER 6, 1986
*
* **$30,000.00*
** *
*
*
*
S.RN.B.EJ3 CO fJ O~ Q m
~)""
III a J. Sa q Sa J. 5 2 III I: J. 2 2 a a a a .. ~ I: q 2 a IId1 J. ? 0 ~ Sa III
.~